The Solana blockchain will overtake Ethereum in terms of consumer applications, Matty Taylor, the co-founder of Colosseum and former head of growth at the Solana Foundation, told Cointelegraph in an interview:

There are currently 1,668 decentralized applications (DApps) on the Ethereum network, over three times more than the 477 in the Solana ecosystem, according to datafrom Alchemy.

Solana has often been touted as a so-called Ethereum-killerfor having superior transaction throughput and faster transaction finality than Ethereum.

The downfall of FTX and the bear market that followed was a crucible moment for the Solana ecosystem, which acquired more and more developers despite the falling price of the Solana (SOL) token. According to Taylor:

Ethereums total value locked (TVL) currently stands at $49.7 billion, which is over 10 times bigger than Solanas $4.01 billion TVL, according to DefiLlama data.

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The Solana blockchain experienced a significant outage on Feb. 6 as block production ground to a halt for over five hours before validators restarted the network. Solana has seen around half a dozen significant outages since January 2022.

While network outages are a negative sign for any ecosystem, blockchains pushing the limits of scalability will inevitably run into similar issues. Taylor told Cointelegraph:

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Solana to outpace Ethereum in consumer applications Former head of growth - Cointelegraph